Iran’s deputy trade minister Hamid Dehan said on Monday that Iran and Venezuelan officials were discussing the final point of a free trade agreement between the two countries, including a list of goods and goods that will enjoy zero tariffs under the contract.
Dehan made a presentation at a meeting in Tehran with Johann Alvarez, Venezuela’s Deputy Minister for Promotion of Foreign Trade and Investment.
He said the free trade agreement would serve Iran and Venezuela’s interests in a “equal and friendly” way, leading to an increase in Venezuela’s exports to Iran.
“Iran and Venezuela can become each other’s trade bases in Asia and South America,” the official said.
The report states that Iran and Venezuelan officials are discussing safety and sanitation regulations on the list of agriculture, fishing and manufactured products that enjoy zero tariffs in free trade agreements between the two countries.
They said the deal could also lead to an increase in the number of co-investment projects between Iran and Venezuela.
Dehghan said Iran and Venezuela’s trade ministers would sign a free trade agreement as soon as the two countries agree to the final draft of the agreement.
Alvarez also said trade between Iran and Venezuela could increase significantly under the free trade arrangements.
He hopes Venezuela will receive more investment from Iran after signing the free trade agreement, adding that the huge resources of the South American country will provide unique investment opportunities for Iranian businesses and businesses.
rhm/